Dedicated to Deposits: Deals, Data, and Discussion
Department Of Commerce Credit Union2.10%--60-84 Month CD
Department Of Commerce Credit Union2.10%--60-84 Month Fixed IRA (Traditional,CESA,Roth)
Department Of Commerce Credit Union1.80%--48-59 Month CD
Department Of Commerce Credit Union1.80%--48-59 Month Fixed IRA (Traditional,CESA,Roth)
Department Of Commerce Credit Union1.30%--24-35 Month CD
Department Of Commerce Credit Union1.30%--24-35 Month Fixed IRA (Traditional,CESA,Roth)
Accounts mentioned in this post. Rates as of July 21, 2014

Competitive CD Rates at Dept of Commerce FCU in DC - Local Only


Department Of Commerce Credit Union

Department Of Commerce Federal Credit Union is another Washington DC credit union that is offering some competitive CD rates. The long-term CD rates are not as high as the rates at US Senate FCU which I reviewed on Monday, and unlike US Senate FCU, they don't seem to provide an easy way for non-DC residents to join. Nevertheless, this credit union may be an option for some readers who prefer shorter-term CDs.

The two more competitive rates at Department Of Commerce Federal Credit Union are 2.80% APY for a 5-year CD and 2.50% APY for a 4-year CD. However, the credit union's shorter-term CDs are more competitive than the comparable CDs at US Senate FCU. These include a 1.45% APY 18-month CD and a 1.65% APY 2-year CD. These CD rates are listed at Dept. of Commerce FCU rates page as of 9/28/2011. Except for the 18-month CD, these are also available as IRA CDs. Minimum deposit is $500.

In addition to employees of the Department of Commerce, membership is open to those who live, work, worship or attend school in Washington, D.C. Please refer to the credit union's membership page for the full details.

The credit union has an overall health score at of 4 stars (out of 5) with a Texas Ratio of 9.59% (above average) based on June 2011 data. Please refer to our financial overview of Department of Commerce Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 16410). The credit union also offers Excess Share Insurance (see my ESI review).

Thanks to the reader who emailed me info on this credit union.

How These CD Rates Compare

As I mentioned above, you can still get higher long-term CD rates at US Senate FCU which is offering the best 5-year CD rate in the nation of 3.33% APY for a $60K minimum deposit. Dept. of Commerce FCU's shorter-term CD rates are just under the best ones in the nation. For example, the best 18-month and 24-month CD rates are 1.55% APY and 1.70% APY at Alliant Credit Union. These rates are accurate as of 9/28/2011.

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of

  Tags: Department Of Commerce Credit Union, CD rates, IRA rates

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Comment #1 by Anonymous posted on
Joining seems like all you have to do is just initial that you can qualify.

Comment #2 by KeithL (anonymous) posted on
If you work in DC, even if you commute in like I do from the outer burbs, you can join.  Even if you go there for business.  Therefore, their field of membership is fairly large.  They typically have good CD rates.

Comment #3 by CPA (anonymous) posted on
I looked into the early withdrawal penalty for the 5 year CD.  It seems to me, pretty significant.  If any princible is removed, they penalize the entire account balance. The penalty is two fold. No interest for 180 days, then from 181 days to the day of withdrawal, a one percentage point drop in the CD rate, in this case 2.75 to 1.75.  Also, the rate is not locked in when you apply, but only when your ACH transfer is received by them. That process, according to them, takes about 3 business days, to set up and do the test transactions.